AKRUTI
NIRMAN LIMITED
(Incorporated as Akruti Nirman Private Limited under the Companies
Act, 1956 on February 16, 1989.)
Registered Office : Akruti Trade Centre, Rd no 7, Marol MIDC, Andheri(E),
Mumbai-400093, India.
Phone: +9122 6703 7427, +9122 6703 7400, Fax: +9122 2821
8230, Emall: ipo@akrutiestate.com
Contact Person: Mr. Chetan S. Mody; Tel: +9122 6703 7427; Website:
www.akrutiestate.com
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 67,00,000 EQUITY SHARES OF RS. 10 EACH OF AKRUTI NIRMAN LIMITED
("ANL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE
OF RS. 540 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 530/- PER EQUITY SHARE)
AGGREGATING RS. 3618 MILLION (THE "ISSUE"). THE ISSUE
SHALL CONSTITUTE 10.04% OF THE POST-ISSUE PAID-UP CAPITAL OF THE COMPANY
THE ISSUE PRICE OF THE EQUITY SHARES IS RS. 540 PER EQUITY SHARE WHICH IS 54
TIMES THE FACE VALUE OF THE EQUITY SHARES
The Issue was made through the 100% Book Building Process wherein 60% of the Net Issue
to the public was to be allocated on a proportionate basis to Qualified
Instiutional Buyers (Including 5% of the QIB portion that would be specifically reserved
for Mutual Funds), Further, upto 10% of the Net Issue shall be available for allocation on
a proportionate basis to Non-Institutional Bidders and upto 30% of the Net Issue shall be
available for allocation on a proportionate basis to Retail Individual Bidders, subject to
valid Bids being received at or above the Issue Price
The Board of Directors of Akruti Nirman Limited wish to thank the Investing
public for their response to the Issue which opened for subscription on January 15,2007
and closed on January 19,2007. The Issue received 2,32,165 applications for
54,26,77,976 Equity Shares resulting in 80.8773 subscription The details of the
applications received in the Issue from Qualified Institutional Buyers ("QIBs"),
Non-Institutional Bidders and Retail Individual Bidders are as under:
Category |
No. of Applications |
No. of Shares bid |
Subscription |
Qualified Institutional Buyers |
229 |
475489128 |
118.2808 |
Non-Institutional Bidders |
608 |
42628848 |
63.6251 |
Retail Individual Bidders |
231328 |
24560000 |
12.2189 |
Final Demand
A sample of the final demand at different bid prices is as under:
Bid Price |
No. of Equity Shares |
% to Total |
Cumulative Total |
Cumulative % to Total |
525 |
3830330 |
15.2144 |
25175620 |
100.0000 |
526 |
190 |
0.0008 |
21345290 |
84.7856 |
527 |
1490 |
0.0059 |
21345100 |
84.7848 |
530 |
380 |
0.0015 |
21343610 |
84.7789 |
532 |
20 |
0.0001 |
21343230 |
84.7774 |
533 |
2070 |
0.0082 |
21343210 |
84.7773 |
535 |
60 |
0.0002 |
21341140 |
84.7691 |
539 |
10 |
0.0000 |
21341080 |
84.7688 |
540 |
770 |
0.0031 |
21341070 |
84.7688 |
545 |
220 |
0.0009 |
21340300 |
84.7657 |
546 |
170 |
0.0007 |
21340080 |
84.7649 |
547 |
140 |
0.0006 |
21339910 |
84.7642 |
550 |
947340 |
3.7629 |
21339770 |
84.7636 |
551 |
50 |
0.0002 |
20392430 |
81.0007 |
555 |
660 |
0.0026 |
20392380 |
81.0005 |
560 |
544880 |
2.1643 |
20391720 |
80.9979 |
564 |
3910 |
0.0155 |
19846840 |
78.8336 |
565 |
120 |
0.0005 |
19842930 |
78.8180 |
570 |
14060 |
0.0558 |
19842810 |
78.8176 |
575 |
312400 |
1.2409 |
19828750 |
78.7617 |
580 |
122320 |
0.4859 |
19516350 |
77.5208 |
585 |
270 |
0.0011 |
19394030 |
77.0350 |
590 |
280 |
0.0011 |
19393760 |
77.0339 |
595 |
170 |
0.0007 |
19393480 |
77.0328 |
599 |
20 |
0.0001 |
19393310 |
77.0321 |
600 |
15865320 |
63.0186 |
1939290 |
77.0320 |
Cut-off |
3527970 |
14.0134 |
3527970 |
14.0134 |
Total |
25175620 |
|
|
|
The Basis of Allotment was finalised in consultation with the Designated Stock
Exchange-Bombay Stock Exchange Limited ("BSE") on Thursday, February 1, 2007.
A) Allocation to Retail Investors Investors
The Basis of Allotment to the Retail Individual Bidders, who bid at the cut-off price
or at the Issue Price of Rs. 540 per Equity Share, was finalized in consultation with BSE.
The Company received 227679 valid applicatinns for 24168588 Equity Shares in this category
resulting in 12.0241 times subscription. The total number of Equity Shares allotted in
this category is 20,10,009. The category wide details of the Basis of Allotment are given
below:
Category |
No. of Applications |
% to Total |
No. of Equity Shares applied |
% to total |
No. of Equity Shares allocated |
Ratio |
Total No. of Equity Shares allocated |
12 |
20204 |
8.87 |
242448 |
1.00 |
12 |
1:12 |
20220 |
24 |
17488 |
7.68 |
419712 |
1.74 |
12 |
1:6 |
34968 |
36 |
11122 |
4.88 |
400392 |
1.66 |
12 |
1:4 |
33360 |
48 |
11946 |
5.25 |
573408 |
2.37 |
12 |
1:3 |
47760 |
60 |
9728 |
4.27 |
583680 |
2.42 |
12 |
5:12 |
48612 |
72 |
4825 |
2.12 |
347400 |
1.44 |
12 |
1:2 |
28956 |
84 |
50226 |
22.06 |
4218984 |
17.46 |
12 |
63:109 |
1733 |
96 |
5952 |
2.61 |
571392 |
2.36 |
12 |
2:3 |
47616 |
108 |
2452 |
1.08 |
264816 |
1.10 |
12 |
3:4 |
22068 |
120 |
3373 |
1.48 |
404760 |
1.67 |
12 |
10:12 |
33732 |
132 |
880 |
0.39 |
116160 |
0.48 |
12 |
11:12 |
9684 |
144 |
1310 |
0.58 |
188640 |
0.78 |
12 |
FIRM |
15720 |
156 |
780 |
0.34 |
121680 |
0.50 |
12 |
FIRM |
9360 |
168 |
1302 |
0.57 |
218736 |
0.91 |
12 |
FIRM |
18228 |
180 |
86091 |
37.81 |
15496380 |
64.12 |
12 |
FIRM |
1291365 |
B) Allocation to Non Institutional Bidders
The Basis of Allotrnent to the Non Institutional Bidders at the Issue Price of Rs. 540 per
Equity Share, was finalized in consultation with BSE. The Company received 526 valid
applications for 42513156 Equity Shares in this category resulting in 63.4524 times
subscription. The number of shares allotted to Non-Institutional Bidders is 6,69,991.The
category wise details of the Basis of Allotment are given below (Sample):
Category |
No. of Applications |
% to Total |
No. of Equity Shares applied |
% to total |
No. of Equity Shares allocated |
Ratio |
Total No. of Equity Shares allocated |
192 |
68 |
12.93 |
13056 |
0.03 |
12 |
1:4 |
204 |
228 |
2 |
0.38 |
456 |
0.00 |
12 |
1:2 |
12 |
348 |
1 |
0.19 |
348 |
0.00 |
12 |
FIRM |
12 |
564 |
2 |
0.38 |
1128 |
0.00 |
12 |
FIRM |
24 |
1680 |
3 |
0.57 |
5040 |
0.01 |
26 |
FIRM |
78 |
2412 |
1 |
0.19 |
2412 |
0.01 |
38 |
FIRM |
38 |
2820 |
1 |
0.19 |
2820 |
0.01 |
44 |
FIRM |
44 |
4800 |
10 |
1.90 |
48000 |
0.11 |
76 |
FIRM |
760 |
5508 |
1 |
0.19 |
5508 |
0.01 |
87 |
FIRM |
87 |
6480 |
1 |
0.19 |
6480 |
0.02 |
102 |
FIRM |
102 |
19992 |
2 |
0.38 |
39984 |
0.09 |
315 |
FIRM |
630 |
22200 |
2 |
0.38 |
44400 |
0.10 |
350 |
FIRM |
700 |
28740 |
1 |
0.19 |
28740 |
0.07 |
453 |
FIRM |
453 |
38736 |
1 |
0.19 |
38736 |
0.09 |
610 |
FIRM |
610 |
55548 |
2 |
0.38 |
111096 |
0.26 |
876 |
FIRM |
1752 |
74064 |
4 |
0.76 |
296256 |
0.70 |
1167 |
FIRM |
4668 |
96000 |
1 |
0.19 |
96000 |
0.23 |
1513 |
FIRM |
1513 |
474000 |
1 |
0.19 |
474000 |
1.11 |
7470 |
FIRM |
7470 |
1908600 |
1 |
0.19 |
1908600 |
4.49 |
30079 |
FIRM |
30079 |
C Allocation to QIBs
Allocation to QIBs was done on a proportionate basis.
Category |
Fis/Banks |
MFs |
FIIs |
Insurance Companies |
Provident Funds |
Total |
No. of Shares |
377269 |
648594 |
2873673 |
118968 |
1496 |
4020000 |
The IPO Committee of the Board at a meeting held at Mumbai on February 2, 2007,
approved the Basis of Allotment of Equity Shares in the Issue and recommended the
allotment of Equity Shares to successful applicants.
The Refund Orders / allotment advice in respect of refunds due to applicants has been
dispatched to the addresses of the investors as registered with the depositories. In case
the same is not received within ten days, investors may contact the Registrar to the Issue
at the address given below. The Refund Orders have been over-printed with the Bank Mandate
details as registered, If any, with the depositories. The shares allocated to the
successful applicants are being credited to their beneficiary accounts subject to
validation of the account details with the depositories concerned. The Company is taking
steps to get the Equity Shares admitted for trading on the National Stock Exchange of
India Limited and Bombay Stock Exchange Limited within seven working days from the date
approval of Basis of Allotment
INVESTORS PLEASE NOTE
These details of the allocation will also be available on the website of the Registrar
to the Issue, Intime Spectrum Registry Limited, at http://www.intimespectrum
All future correspondence in this regard may kindly be addressed to the Registrar to
the Issue quoting the full name of the First/Sole applicants, Serial number of the
bid-cum-application form, number of shares bid for, name of the Member of the Syndicate
and Place where the bid was submitted and payment details at the address given below:
Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound, LBS Marg, Bhandup (West), Mumbai 400078. Phone:
(91-22) 2596 0320;
Fax: (91-22) 2596 0329, Email: anl-ipo@intimespectrum.com,
Website: www.intimespectrum.com |